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Stocks to Watch: Disney, J.C. Penney, Toyota

Written by: Joseph Woelfel05/08/13 - 5:21 AM EDT

Tickers in this article:
AOL DIS EA JCP TM WEN

NEW YORK -- Walt Disney's sales and profits for the three months ended March 31 beat analysts' forecasts as the world's largest entertainment company posted growth at its television networks, film studios and amusement parks.

Disney, the owner of ESPN and ABC, said Tuesday that fiscal second-quarter sales were $10.55 billion, topping estimates of $10.48 billion.

Second-quarter operating income jumped 29% to $2.5 billion as earnings per share for the quarter adjusted for one-time items was 79 cents, compared to forecasts of 77 cents a share.

Operating income at Disney's cable networks, which includes ESPN, rose $224 million to $1.7 billion as affiliate revenue increased 10%. Sales at its media networks, which includes ABC, increased 6% to $5 billion.

The second-largest game maker by revenue forecast fiscal 2014 earnings of $1.20 a share, above the average analyst estimate of $1.10 a share. The company expects full-year revenue of $4 billion, in line with expectations.

For the first quarter, the company expects to post a loss of 62 cents a share on revenue of $450 million; Wall Street is looking for a loss of 32 cents a share on revenue of $619.7 million.

For the fourth quarter, Electronic Arts booked earnings of 55 cents a share on revenue of $1.04 billion, compared with estimates of 57 cents a share on sales of $1.03 billion.